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[roni]

The Mogambo Guru

I don't know if any of you have ever read this guy, but he sure is entertaining economics writer - I guess you could call him that :.

Here is a snippet and a link

-Total Fed Credit did not appreciably change last week, up a mere $562 million, which is chump change when you have been watching TFC shooting up by a few billion per freaking week for years and years, especially since 1997, which is, for you Mogambo scholars, a special year for me, as clinical records indicate that 1997 was when I officially entered Permanent Mogambo Panic Mode (PMPM), thanks to Alan Greenspan and his horrible Federal Reserve moron buddies suddenly starting to create explosive, monumental amounts of money and credit around the clock, which they have not stopped doing yet, nine freaking years later.

As Sprott Asset Management wrote, "For those keeping track, M3 money supply is up 50% since the beginning of the decade, and has doubled since the beginning of 1997. Alan Greenspan has been a money printing speed demon. Before 1997 it took fourteen years for the money supply to double. Since then it has taken only nine; and if the rate of the past month is any indication, it will double again in four years."

So, money and credit were not being created willy-nilly as much in the last couple of weeks, which is a nice change of pace for those of us who understand how excess money and credit is what fuel booms, and how booms lead to busts, and how busts lead to business slowdowns, and business slowdowns mean relatives getting laid off, and then they come over here crying and pleading and whining and wanting me to pay back the money I owe them, and I laugh so much that I get a sore throat. But mostly I am despondent at the prospects.

My mood is elevated somewhat, as is yours, I am sure, by plans for the big celebration of Mozart's 250th birthday celebration this Friday, the 27th of January. On that glorious day we will all again spend time listening to the music of the greatest and most phenomenal composer in the history of music, eating German pork products, and drinking German beer until we puke. Ahhh! Music appreciation at its finest!

But Mozart's birthday is only one day of happiness, and then it is back to the coming recession/depression, which will be particularly ugly and misery-laden this time, as the unfortunate side of brutal reality (USOBR) is that the misery of the subsequent bust (M) pretty much equals the fun (F) of the prior boom, as in the timeless equation, M = F. And how much fun was the boom? Well, according to everything I read, see, or hear, it was the biggest freaking boom in recorded history. From there, it is a short hop to all-consuming fear, a left turn down Panic Alley, a U-turn onto Screaming Hysteria Lane, and then you arrive at the Mogambo Bunker Of Ultimate Dread (MBOUD).


http://www.321gold.com/editorials/daughty/daughty012506.html